Buy to Let
Whether you are a first time landlord or a seasoned Pro, here’s something you will definitely need to do- Take out a buy to let mortgage instead of a standard residential mortgage. Yes, just like the name implies, a buy to let mortgage is explicitly designed for buyers buying to rent out to tenants.
Buying additional property for the purpose of letting it to earn rental income can be risky and complicated since there is no guarantee that house prices will rise nor that rental income will be uninterrupted. That said, letting a second property to tenants could return respectable financial rewards over the longer term, but it’s important to properly consider the risks, as well as rewards, involved in ‘Buy to Let’ first.